Charles Hoskinson recently stated that he has heard “rumors” that the two-year legal struggle between Ripple and the SEC will end on December 15.
“There are reports that the Ripple case will be settled on December 15th. And, well, we’ll have to wait and see what the outcome turns out to be; either way, it could be disastrous for the market.
FOX Business reporter Eleanor Terrett, though, tweeted back, “It’s not true.” According to a follow-up tweet, the reporter confirmed that her sources had advised her there was no truth to the story.
The Hoskinson rumor has negatively impacted the crypto sector and altcoin pricing and angered the XRP community.
Widespread Disruption
Crypto whales trade over 392 million XRP in one day as reports of a settlement in the case between Ripple and the SEC spread.
Information about significant XRP moves in recent days has been shared by the cryptocurrency whale tracking service Whale Alert. According to the most recent transactions, whales are moving a significant amount of XRP from exchanges.
According to Whale Alert, these high-net-worth cryptocurrency investors have moved a staggering 392,764,221 (392.76M) XRP tokens in the last 24 hours.
The significant XRP movement coincides with the proliferation of reports about a possible resolution to the ongoing legal dispute between Ripple and the SEC.
XRP Whale Transfer
According to the information provided by the crypto whale tracking service, the most recent transaction occurred on December 12 – a withdrawal of 38,893,182 (38.89M) XRP worth $14.4M by an unnamed whale.
In addition, two anonymous whales shuffled 188.5M XRP worth $72.83M. Unknown whale withdraws 30M XRP ($11.67M) from Bitso.
Another Binance user withdrew 37,371,039 XRP tokens ($14.14M) to an unknown address.
XRP whales have flipped a significant amount of the cryptocurrency since the news broke.
How Will XRP Be Impacted?
Our next move is to sit tight and watch. While this is going on, there is a lot of conjecture regarding the case’s outcome in the surrounding community.
As the decision gets closer, we can expect a direct impact on the XRP price. Traders need to tread carefully due to the potential volatility of the market. In theory, the price of XRP could rise to between 50 and 60 cents. On the contrary, such news can be followed by a pump and dump, which can lead to a significant drop in the price of XRP.
For blockchain, this will be the next major disaster. If the claims are true, XRP might be directly impacted by a high-profile legal ruling, which is difficult to foresee.
